Tina Knudson works in engine assembly at the General Motors Fairfax Assembly and Stamping Plant in Kansas City, Kans. / Susan McSpadden for General Motors

by Chris Woodyard, USA TODAY

by Chris Woodyard, USA TODAY

General Motors reported Thursday that it earned $1.2 billion in the second quarter,down from $1.5 billion for the same period last year.

That amounted to 84 cents a share without one-time charges, easily beating analysts' consensus forecasts of 76 cents a share from S&P Capital IQ. With special charges included, earnings per share is 75 cents a share.

Net income was reduced by $500 million, or 29 cents per fully diluted share, due to a tax expense.

Like Ford Motor, which reported Wednesday, GM was able to cut its losses in Europe, where auto sales remain challenged. But in the U.S. and the rest of North America, the good times continue to roll.

Overall, GM CEO Dan Akerson sounded pleased.

"We continue to perform well in the world's two most important markets, the U.S. and China," he says in a statement. "We also made further progress in our European business and saw the steady performance of our global brands Chevrolet and Cadillac."

Net revenue in the second quarter of 2013 was $39.1 billion, compared to $37.6 billion in the second quarter of 2012. Earnings before interest and tax (EBIT) adjustment was $2.3 billion, compared to $2.1 billion in the second quarter of 2012.

GM was able to reduce its losses in the Europe for the quarter to $100 million, down from $400 million in the same quarter last year. And critical North American operations saw an increase to $2 billion, up $100 million. While the China market is holding up -- General Motors is making a big play there with the Cadillac luxury brand -- GM pointed to weakness in India and Russia as being among the reasons profits shrank in its international division by about $400 million to $228 million.